James Wan and his Atomic Monster banner are conjuring up a new monster movie for Universal Pictures, Collider has confirmed.

Supernatural scribe Robbie Thompson is writing the script for the untitled horror thriller, which is reportedly in the vein of Disturbia. The story follows a group of teens who discover that a neighbor is building a monster in his basement, and wouldn't you know it... the monster gets loose!

Talk of "building" a monster surely brings to mind Frankenstein, so I wonder if this project will prove to be a modern riff on Mary Shelley's genre classic. Wan will produce the film, which was announced in the wake of Universal's success with The Invisible Man. The studio is encouraging filmmakers to come up with unique creative takes on its classic monsters, having jettisoned plans for an interconnected cinematic universe.

Wan joins Elizabeth Banks (The Invisible Woman), Paul Feig (Dark Army) and Dexter Fletcher (Renfield) among the directors developing monster movies at Universal, which has also empowered producer Amy Pascal to develop a take on The Bride of Frankenstein. Wan's next film, Malignant, hits theaters on Aug. 14, and as a producer, he has Mortal Kombat and The Conjuring: The Devil Made Me Do It on the horizon.

Thompson is currently a writer on the Netflix series Cursed, which reimagines the legend of King Arthur in present day. He's represented by Artists First, while Wan is repped by CAA and Stacey Testro International. The Hollywood Reporter broke the news of the project. For more on Malignant, click here.